Does money motivate people – what’s the truth?

Does money buy happiness in your opinion?

If yes, to what extent? 

If not, why not?

Many years ago, before I got into psychology, I thought that money surely can motivate people to work better, more quickly and efficiently; and no matter what your job is that money can enhance performance.

Many of us are trying not to focus on material things too much, but sometimes it may be really challenging. We know or hear about people who are driven by fame, power and money, but they don’t always seem to be happier with their life.

There are actually many rich and famous people whose lives are far from ideal, although at first they may look fabulous: they have public recognition, fans, attend parties, and are able to afford houses and fantastic trips all over the world. Then when we look at someone’s life deeper, even though it seems full of blessings, it actually may be an empty and dark place filled with anxieties, depression or drugs.

The rich and famous sometimes can’t handle the social pressure, the expectations from the public and the high standards imposed by the industries they work in.

We often think … if we were rich the bad stuff and feelings surely wouldn’t happen to us and we would certainly know how to keep sane, responsible and in charge of our lives. We may think this but life isn’t as easy as it seems, even if one has money. Even the nicest and most noble people get lost and need to fight loneliness, cancer or depression. And sometimes they lose like in the case of Robin Williams and many others…

What have academic studies recently found out about the impact of money on our happiness and motivation?

According to the Harvard Business Review, studies show that, even if employees decided how much they earn for their work, they probably wouldn’t enjoy their work more!

The link between money and motivation or performance is much more complex than we think. Tim Judge and his colleagues analysed 120 pieces of research on this topic and concluded that there is actually a very weak link between money and job satisfaction.

“Employees earning salaries in the top half of our data range reported similar levels of job satisfaction to those employees earning salaries in the bottom-half of our data range.”

What’s interesting, and no matter how ridiculous it sounds, in non-physical jobs particularly, financial rewards can actually distract and demotivate people, and some tasks can be done even more slowly and less effectively than before!

Scientists believe that we should focus on our intrinsic motivation (own satisfaction) because it is a stronger predictor of our job satisfaction and/or performance.

Of course, research findings are only average and we need to remember that everyone is different and has different motives. Financial goals motivated by the pursuit of power or boosting our confidence (using the money for cosmetic surgeries, for example) will be a lot less rewarding than seeking a bigger income to meet needs related to security or family support.some-people-are-so-poor-all-they-have-is-money

For employers, a far better prediction of an employee’s job satisfaction is their personality traits rather than income:

“The more emotionally stable, extraverted, agreeable or conscientious people are, the more they tend to like their jobs (irrespective of their salaries)… but … the biggest organisational cause of disengagement is incompetent leadership. Thus, as a manager, it’s your personality that will have a significant impact on whether your employees are engaged at work, or not.”

If you are interested to find out more about this fascinating phenomenon, have a look at the Harvard Business Review article HERE

You may be interested in this great book too: Art of Money: A Life-Changing Guide to Financial Happiness by Bari Tessler available here

THE 3 BIGGEST PRODUCTIVITY MYTHS – Motivation 3/3

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THE MOTIVATIONAL MYTH

There is something called motivation, I do agree, but some of us often try to rely on it instead of believing in ourselves more and taking action. We can do what we want if we focus on managing tasks and our energy instead of constantly seeking inspiration and motivation to drag us towards our goals. It doesn’t work that way.

If you enjoy doing what you are doing and working on then you don’t really need any external motivation, do you? You do something because you like it or love it. Some of us think that motivation precedes action. Does it? We have to have some internal motivation but that often shows up during or after activities we do, not before. Otherwise, can you imagine that a successful sportsman waits for inspiration and exercise only when he or she feels like it?

If you don’t enjoy what you are doing then watching a motivational video won’t help; surely, it’s not a long-term solution anyway.

You need to find out EXACTLY why you don’t like something and consider what you can do to change this. Is the task too boring or difficult? What can you do about it?

  • Can you make some modifications to make the task more attractive? Can you do something to enjoy it a bit more while doing it, e.g. listening to an audio book or your favourite music while cleaning?
  • If it’s difficult can you watch some tutorials about it or take up a course or two so you can extend your skills and knowledge and become a bit more of an expert in it?
  • If you can’t find a way to improve anything, then a technique such as Pomodoro may be useful (blocks of 25 mins of work using a timer). You can read more about this technique here . Pomodoro timers are available online for free.

Read about and listen to productivity tips but also do spend some time on observing and considering what really works for you and what doesn’t because even the best methods won’t work for everyone in the same way.

How to stay more productive? And why time-management isn’t the right answer.

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Nowadays we receive 5 times more information on a daily basis than just a few decades ago. We are expected to juggle many different roles and responsibilities and we constantly feel that we should be more productive.

There is a bit of a paradox here that people believe in. We feel we should work more and faster in order to be more productive. If you are a factory worker that’s probably the case but in most other jobs in order to be more productive we need to SLOW DOWN!

When did time start to matter to people SO MUCH? I find history quite fascinating so let’s just go through a few interesting facts:

  • In 1275, the first mechanical clock was invented in England. The oldest working clocks usually did not have any face and told the time by striking the hours.
  • Pocket watches started to be produced in the 16thcentury but showed only hours. Minute hands were added to the clocks in the 1680s. Then the second hands were added around 10 years later.
  • Mass production of watches started in the 19th century and was related to industrial changes.
  • The first wrist watches were wore by women and often used rather as a piece of jewellery than a device to measure time.

Apparently before people used watches If they wanted to tell how long something may take they would describe it by giving an example of an activity that was well known e.g. “like eating a banana”, so then everyone knew that they meant a very short period of time.

Time management used to be crucial in the industrial economy but nowadays, in the knowledge economy (when we use our knowledge to create values and products), it is ONLY ONE OUT OF A FEW important factors which can improve our effectiveness, productivity and work-life balance.

Actually managing your energy and tasks is a lot more important than time-management. Instead of worrying about passing hours and days and how we can squeeze more tasks into small blocks of time, we need to divert attention into more significant aspects, more innovative techniques and solutions which can help in achieving optimal productivity.

We feel most productive when we do a lot of things and work longer hours. Many people think then that to accomplish more you need to put more effort in, sleep fewer hours and work additionally at weekends, to be always ahead of competition! There is a bit of truth in it. Nothing that’s great comes easily and if you want to have exceptional results you need to put a lot of work and energy into whatever you are doing – writing a book, working on your business plan or creating a project for your university course or work. However, working more hours won’t make you more productive. Studies found that we should work, ideally, 35-40 hours a week in order to achieve the best results. Working more than that may work for very short periods of time—for example, a few days—but in the long-term working a lot will make you exhausted and depressed and you are at high risk of burnout. To be more productive focus on slowing down MORE!

Remember about regular breaks and getting 7-8 hours of sleep everyday as well. We all seem to know these simple rules but they are neglected by SO many of us!

Time usage is vital in our lives (that’s why we all keep looking at watches, and the most popular word in the English language is…time!) so I don’t want to say that this is not important but there seem to be other more crucial factors which can decide how effective, productive and successful we are. Focus on managing your energy levels and attention and consider how you can avoid distractions. Also, focusing on the right tasks seems a straightforward rule but is often neglected by many people who instead of spending some time on reflection, prioritising, planning and reviewing try to do more tasks and take work home.

What do you do to boost your productivity?

 

Productive Mondays! How many hours should we work, ideally?

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We often confuse productivity with being busy. What exactly does it even mean? We feel productive when we are very busy, when we have a lot of tasks and complete most of them. Usually the more hours we work, the more productive we feel.

HOWEVER

There has been plenty of research where findings show that if we work too many hours we decrease our productivity A LOT!

What’s more, if we work a lot of hours for a few weeks or more – that’s just a perfect recipe for depression, burnout and anxiety which may even lead to a nervous breakdown!

Labour Economics published an article by Collewet and Sauermann where the researchers outlined their study done on call-centre workers. Even with part-time employees, increasing their number of working hours created more fatigue than productivity! (more about this study here )

Too few hours = we won’t achieve much.

Too many hours = we are tired and our productivity decreases a lot.

What’s the golden rule? What’s the perfect solution, then?

Chris Bailey in his book The Productivity Project (available HERE) talks about an experiment that he did. Namely, he worked alternate weeks for a very different amount of hours. One week he worked 20 hours and another one 90 hours, and in this way he did several weeks.

An important lesson that he realised? That while working 90 hours he did only a bit more work than while working 20 hours!

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When he had only 20 hours to do his tasks, he felt a bit of pressure that his time was so limited so he focused on using his more valuable time (when he had most energy and attention) to do the most important, difficult and meaningful tasks. With that limited amount of time it was also easier not to procrastinate too much (and, apparently, it’s impossible to completely avoid procrastinating) because he had to focus on what must be done, on priorities! During the 20-hour-work week he had more time to recharge and restore his energy levels in various ways too (meditation, exercising, sleeping well, socialising, etc.).

When we work a lot, it’s hard to remember all the time what’s most important, what we should pay more attention to, what’s the bigger picture. Although we work more, we don’t have enough energy and focus to do planning or to do it properly, and to think of possible improvements and solutions to various problems.

Chris dug deep in his research to find out the ideal amount of hours that one should be working so as not to get too tired and to be able to complete a lot of tasks in a productive way. He found that although 46 hours felt like the best working week for him most studies indicate that 35-40 hours a week is perfect to get the job done with maximum productivity.

Surely the more you enjoy your job, the more you are able to work. However, breaks and time to rest are crucial for your creativity, maintaining an innovative and open-minded thinking and approach, and your efficiency.

How many hours a week do you work? Do you have any control over it? Can you improve this aspect in your life to become more productive?

Personal Growth project. When things don’t always go as they should.

What do you do and how do you feel if some days you can’t really do what you plan to do? Do you just ignore it, accept it and keep going or do you get frustrated? Life is unpredictable and it’s difficult to be prepared for everything. We may feel hopeless, but it’s important to remember that some aspects we CAN control and some others we won’t be able to. If we can’t control something – why waste time on worrying and getting stressed about it? If we can control something – again, why allow too many negative emotions to cross our mind? We can decide what to change and how so as to make our plans work.

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This week’s Personal Growth project update isn’t what I thought it would be because the third week of January has surprised me a lot…

Apparently the last two weeks have been the worst in England in terms of the amount of people suffering with flu. Most of my family is sick, including me. I’m actually recovering from tonsillitis, not flu, but that’s not that different really. A bad sore throat kept me awake for nearly three nights. I had to keep working full-time (a long story…) and when you are in your third trimester of pregnancy such a combination of circumstances is not much fun… I felt stressed, weak and unproductive. And as you can see I still feel a bit like complaining about everything ;). I really don’t like to feel this way.

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On the other hand, I try to focus on the positive whenever I can and I’m actually quite surprised that I did anything at all related to my project this week! I did a bit of writing, and  I uploaded some blog posts on time according to my new schedule (Productive Mondays, Happy Wednesdays and weekends with Personal Development). I was reading books and doing some research, and kept my social media related to my project mostly up to date. I should try not to get too frustrated that I haven’t done enough/much this week when there is a good reason for that and I think being ill is probably a good reason. 😉 haha

If your week wasn’t great then maybe you will stop for a moment to consider one of my favourite quotes which  always makes me feel better in such situations:

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What could that reason be this time? Maybe just a simple reminder to slow down once in a while, not to review your goals, but actually to forget about the goals for a few days and re-charge the batteries.

As I mentioned during the project prep time – a flexible approach is, and always will be, critical here (as long as I don’t use it as an excuse to procrastinate! ;)). I think I should write the word FLEXIBILITY on a white board in my kitchen to keep this in mind all the time 😉 Without this attitude I’d probably already feel that I’ve failed. If you allow yourself some flexibility and try to get back to a positive mindset whenever you can then surely you won’t fail and you won’t disappoint yourself! 😉

And let me share one more favourite reminder which keeps me motivated in difficult moments:

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How has your week been going? How have you been doing with your goals?

New releases in the field of self-development!

What hot new releases will be discussed this year in the media? Here are a few noteworthy new books related to self-development which will be released very soon (and can be pre-ordered):

  1. Crushing It! – by Gary Vaynerchuk (famous motivational speaker). It will be released on 30th January 2018 but can be pre-ordered (available here).

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2. The Motivation Myth: How High Achievers Really Set Themselves Up to Win –by Jeff Haden. This book will be published on 9th January 2018 and of course can be pre-ordered (available here)

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3. The Year of Less: How I Stopped Shopping, Gave Away My Belongings, and Discovered Life Is Worth More Than Anything You Can Buy in a Store – by Cait Flanders. The book will be released on 16th January 2018 and can be pre-ordered here

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4. Decluttering at the Speed of Life: Winning Your Never-Ending Battle with Stuff – by Dana K. White. It will be published on 27th February and can be pre-ordered here

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5. Great at Work: How Top Performers Do Less, Work Better, and Achieve More by Morten Hansen. The book will be published on 30th January 2018. It can be pre-ordered here

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Any titles in this genre that you’ve read and  would recommend? Please comment below.

How much does your self-development matter to you?

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This Christmas Santa has been very generous 🙂 to me and I’ve received some wonderful pressies, including some books I’ve really wanted to have for a while:

  • Tools of Titans: The Tactics, Routines, and Habits of Billionaires, Icons, and World-Class Performers by Tim Ferris (available here)
  • Stumbling on Happiness by Daniel Gilbert (available here )
  • Grit: Why passion and resilience are the secrets to success by Angela Duckworth (available here)
  • The 4-Hour Work Week: Escape the 9-5, Live Anywhere and Join the New Rich by Tim Ferris (available here)
  • The Productivity Project: Accomplishing More by Managing Your Time, Attention, and Energy by Chris Bailey (available here)

I’ve decided that this blog will be a good place to post books reviews once in a while. What do you think? Have you read any books about personal development, time management or motivation?

These books used to be called ‘self-help’ books and I think because of this their reputation has been somewhat damaged. Some people don’t buy them because they say they that don’t need any help with finding out how to prioritise their life or they don’t have a problem with time management and so on…

I’m glad that the industry has been changing and now these titles are called self-development’ rather than ‘self-help’ books! I’m glad that people are starting to realise how important personal growth is and that it should not be a luxury but a necessity.

Personal growth doesn’t just help to keep you sane and away from mental health disorders but it’s a lot more than that. When you do what you love, when you commit to lifelong learning and improve your skills and knowledge, you feel more positive, happy and satisfied with your life. Naturally, the more optimistic you are, the more positive your approach and thoughts, and this will have an impact on others around you too, on your relationships and on various other aspects of your life.

The happier you are, the more successful you can become.

Happiness drives performance, not the other way around.

Contrary to what many people say, investing in your own personal development is not egoistical and selfish. It’s something that makes us better human beings in many aspects, also in social terms.

I’m wondering if you are interested in such self-development titles. What book(s) have you been recently reading?